The price of Pi Network (Pi Coin) has seen a sharp decline in the midst of wider crypto market sales. The opening of a token lock of $ 175 million increases the sales pressure on Pi Coin. An analyst predicts more in the short term for Pi Coin.
For Pi Coin, there are $ 1 in cards before the rise!
According to Piscan data, approximately 129 million Pi Coins, worth approximately $ 175 million, will be released this month, and the price of Pi Coin is facing fluctuations. Large locking activities typically increase sales pressure. For this reason, investors are afraid that Pi Coin will fall below the $ 1 sign.
At the same time, the lack of a Binance listing announcement reduced investor sensitivity. Many people in the Pi community hoped that the stock market would list Pi Coin on March 14, known as “Pi Day .. However, Binance has not yet approved such a plan and fueled its speculation and market uncertainty.
Meanwhile, despite these decline signals, some analysts see a potential recovery. However, they expect lower levels before recovery. Crypto analyst Chad Sniper says Pi Coin might fall below $ 1 in the near term. However, he predicts that he may rise above $ 3.50 in the long run.
Will Pi Coin collapse or rise?
The future of the Pi Network price remains very uncertain with mixed signals from the market. On the one hand, opening the upcoming token lock poses a significant risk and increases the likelihood of price drop. On the other hand, the increasing adoption of analysts and positive emotions indicate a possible recovery.
Pi Coin decreased by about 7 %and changed hands for $ 1.35, while the transaction volume decreased by approximately 13 %to 361 million dollars. In particular, Token reached $ 1.46, the highest level of 24 hours, and approached the $ 3 sign in a monthly time period. However, despite the ongoing variable trade scenario, experts continue to rise in the future orbit of the token.
The adoption of Pi Network is increasing in China
While concerns about the opening of the Token lock continues, Pi is rapidly adopted in China. Vietnam -based pi enthusiast Cryptoleakvn recently shared an update at X and emphasized the increase in places that accept Pi throughout the country. According to the post, many stores, services and restaurants are now integrated into Pi Coin transactions. The expansion of the Pi ecosystem shows that the project has begun to attract attention in the real world and strengthen its benefits beyond speculation.
Increasing use can often play an important role in balancing the Pi Network price for increasing adoption, as it usually reduces sales pressure caused by the opening of new token locks. If more trader and the user continues to adopt Pi, he can resist some negative market forces.
